IDBI Capital: Manappuram Finance’s Robust Gold AUM Growth Continues In Q2; MFI Reported Loss 
Gold jewelry sits on a digital scale during the processing of a customer’s gold loan application at their home in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

IDBI Capital: Manappuram Finance’s Robust Gold AUM Growth Continues In Q2; MFI Reported Loss 

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

IDBI Capital Report

Manappuram Finance Ltd. reported strong sequential growth of 11% in gold loan portfolio (73% of asset under management) due to increase in ticket size.

Within non-gold, Asirvad micro finance institution and vehicle finance segment reported decline of 1% and 16% QoQ respectively which resulted in lower AUM growth of 19% YoY versus 25.6% in Q1 FY21.

Net interest income grew by 17% YoY led by decline in net interest margins due to higher liquidity; pro-provision operating profit grew by 13% YoY led by decline in other income.

Click on the attachment to read the full report:

IDBI Capital Manappuran Finance Q2FY21 Result Update.pdf

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